Shares of ABB Ltd (NYSE:ABB) have been assigned a consensus recommendation of “Hold” from the sixteen brokerages that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $23.00.
A number of research firms have weighed in on ABB. BidaskClub cut shares of ABB from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Zacks Investment Research upgraded shares of ABB from a “sell” rating to a “hold” rating and set a $28.00 price objective for the company in a research report on Monday, June 12th. Robert W. Baird restated an “outperform” rating and set a $28.00 price objective (up from $27.00) on shares of ABB in a research report on Friday, June 16th. UBS AG restated a “sell” rating on shares of ABB in a research report on Monday, July 24th. Finally, Citigroup Inc. restated a “sell” rating on shares of ABB in a research report on Friday, June 9th.
Shares of ABB (NYSE ABB) opened at 22.83 on Friday. The company has a market capitalization of $48.72 billion, a P/E ratio of 21.99 and a beta of 1.06. The stock’s 50 day moving average is $24.26 and its 200 day moving average is $23.93. ABB has a 12 month low of $20.26 and a 12 month high of $25.83.
ABB (NYSE:ABB) last posted its quarterly earnings data on Thursday, July 20th. The industrial products company reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.03. The company had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.55 billion. ABB had a return on equity of 18.62% and a net margin of 6.87%. The business’s revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.35 earnings per share. On average, equities analysts predict that ABB will post $1.25 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in ABB. Financial Architects Inc boosted its stake in ABB by 2,404.2% in the second quarter. Financial Architects Inc now owns 4,182 shares of the industrial products company’s stock valued at $104,000 after buying an additional 4,015 shares during the last quarter. Ledyard National Bank boosted its stake in ABB by 3.6% in the second quarter. Ledyard National Bank now owns 4,350 shares of the industrial products company’s stock valued at $108,000 after buying an additional 150 shares during the last quarter. Huntington National Bank boosted its stake in ABB by 40.3% in the second quarter. Huntington National Bank now owns 5,484 shares of the industrial products company’s stock valued at $137,000 after buying an additional 1,575 shares during the last quarter. IFP Advisors Inc boosted its stake in ABB by 71.0% in the second quarter. IFP Advisors Inc now owns 6,552 shares of the industrial products company’s stock valued at $163,000 after buying an additional 2,721 shares during the last quarter. Finally, Sawtooth Solutions LLC purchased a new stake in ABB during the second quarter valued at about $201,000. Hedge funds and other institutional investors own 4.03% of the company’s stock.
ABB Ltd (ABB) is a holding company. The Company’s segments include Electrification Products, Robotics and Motion, Industrial Automation, Power Grids, and Corporate and Other. It operates through four divisions: Electrification Products, Robotics and Motion, Industrial Automation and Power Grids. It is engaged in serving customers in utilities, industry and transport and infrastructure.
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